In this study, the long run relationships between
economic freedom, foreign direct investments and domestic investment
expenditures in Turkey were explored for the period 1995–2015 by using the autoregressive distributed lag (ARDL)
model.
The ARDL cointegration test presents that there is an evidence of the long-run
relationship between variables. The overall results from the estimated long run
coefficients indicate that; i) There isn’t any statistically significant
relationship between foreign direct investments and domestic investment
expenditures. ii) Per capita real income and the economic freedomhave positive effect on domestic investment expenditures.

Fedderke, J. W. ve Luiz, J. M. (2008). The Political Economy of Institutions, Stability and Investment: A Simultaneous Equation Approach in an Emerging Economy. The Case of South Africa. The Journal of Development Studies, 44(7): 1056-1079.